U.S. President Donald Trump has announced that Nigerian exports to the United States will now be subjected to a 14% tariff as part of a new trade policy aimed at rebalancing global trade relations.
Speaking during a ‘Make America Wealthy Again’ event at the White House Rose Garden on Wednesday, Trump justified the tariff as a measure to protect American industries and address what he described as unfair trade practices.
According to the Trump administration, Nigeria currently imposes a 27% tariff on U.S. exports, creating a trade imbalance that the U.S. government seeks to rectify.
“This is one of the most important days in American history,” Trump declared. “We will supercharge our domestic industrial base, open foreign markets, and break down foreign trade barriers. More production at home will mean stronger competition and lower prices for consumers.”
The 14% tariff on Nigerian exports forms part of a broader trade initiative that also includes a 10% baseline tariff on all U.S. imports. The policy, which takes immediate effect, affects over 50 countries, including major economies like China, the European Union, India, and Japan.
Several African nations will also face steep tariffs, with Algeria at 30%, Lesotho at 50%, Mauritius at 40%, and Ghana, Ethiopia, and Kenya at 10% each. South Africa will be subjected to a reciprocal 30% tariff.
The new trade restrictions have rattled global markets, fueling concerns about a potential trade war and its impact on international commerce.
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